Targets     2018 2017 2016* 2015 2014 2013* 2012*  
PERFORMANCE PER ORDINARY SHARE                          
Weighted average number of ordinary shares in issue during the year net of buy-back           210 875 210 780 211 425 211 843 211 669 211 011 210 693  
Earnings per share Net profit attributable to ordinary shareholders of Barloworld Limited SA cents       1 823.8 779.6 890.5 808.7 1 012.3 763.0 711.9  
Weighted average number of ordinary shares in issue, net of buy-back US cents       140.2 58.2 60.4 67.5 95.8 82.2 88.8  
Earnings per share – continuing operations As above, but using results from continuing results only SA cents       1 042.8 907.2 876.8 808.7 810.3 739.9 675.7  
US cents       80.2 67.8 59.4 67.5 76.7 79.7 84.2  
Headline earnings per share Net profit attributable to ordinary shareholders of Barloworld Limited + goodwill impairment -/(+) non-trading profits/(losses) net of tax and non-controlling interest thereof SA cents       1 192.1 883.4 838.1 813.8 882.5 820.8 651.7  
Weighted average number of ordinary shares in issue, net of buy-back US cents       91.6 66.0 56.8 67.9 83.5 88.4 81.2  
Headline earnings per share – continuing operations – excluding B-BBEE As above, but using results from continuing results only SA cents       1 150.9 974.5 840.9 925.5 856.5 779.6 615.1  
US cents       88.5 72.8 57.0 77.3 81.0 84.0 76.7  
Dividends per share Interim and final dividends declared out of current year’s earnings SA cents       462 390 345 345 320 291 230  
US cents       35.5 29.1 23.4 28.8 30.3 31.3 28.7  
Dividend cover Headline earnings (continuing operations) + B-BBEE transaction charge (net of taxation) times       2.5 2.1 2.3 2.6 2.5 2.5 2.5  
Dividends paid out of current year’s earnings
Net asset value per share Interest of shareholders of Barloworld Limited, including investments at market value SA cents       10 453 9 533 8 997 9 157 7 941 7 266 6 087  
Number of ordinary shares in issue, net of buy-back US cents       739 706 654 661 703 722 738  
PROFITABILITY AND ASSET MANAGEMENT                          
Operating margin – Group – excluding B-BBEE Operating profit before B-BBEE charge and goodwill impairment % >6.5     6.8 6.1 6.2 6.4 6.0 5.3 5.1  
Revenue – group operations
Operating margin – Continuing operations– excluding B-BBEE Operating profit before B-BBEE charge and goodwill impairment % >6.5     6.9 6.6 6.6 6.4 6.2 5.6 5.3  
Revenue – continuing operations
Net asset turn Revenue – group operations times >3     2.1 2.2 2.1 2.1 2.4 2.6 2.9  
Average net assets
Return on net assets (Group) Operating profit + B-BBEE transaction charge + investment income + income from associates and joint ventures % >18     15.1 13.4 13.3 13.4 15.3 14.8 15.4  
Average net assets
Return on net assets (Trading businesses) As per above group calculation but excluding leasing and car rental businesses % >20     13.5 12.6 12.7 12.8 15.2 15.3 16.7  
Return on net operating assets (Group) Operating profit + B-BBEE transaction charge + investment income + income from associates and joint ventures % >20     20.5 18.4 15.9 17.0 18.7 18.0 18.5  
Average net operating assets
Return on ordinary shareholders’ funds (excluding exceptional items) (Group) Net profit attributable to ordinary shareholders of Barloworld Limited – net exceptional items + B-BBEE transaction charge (net of tax) % >15     11.8 9.5 9.2 10.9 11.6 12.2 10.6  
Average interest of shareholders of Barloworld Limited
Replacement capex to depreciation Replacement capital expenditure %       9.7 12.2 18.9 29.3 21.6 17.3 18.5  
Depreciation charge
Effective rate of taxation – continuing operations Tax charge – prior year tax – non-operating and capital items tax – secondary tax on companies %       28.5 23.9 27.0 37.1 34.1 31.8 32.6  
Profit before tax -/(+) non-operating and capital items + goodwill impairment
LIQUIDITY AND LEVERAGE                          
Total liabilities to total shareholders’ fund Non-current liabilities – deferred tax liabilities + current liabilities % <150     113.2 115.5 130.0 137.4 149.5 152.0 167.0  
Interest of all shareholders
Net debt to total shareholders’ funds Non-current interest-bearing liabilities + amounts due to bankers and short-term loans – cash and cash equivalents %       14.4 27.6 40.7 55.1 40.9 47.5 57.6  
Interest of all shareholders
  Non-current interest-bearing liabilities + amounts due to bankers and short-term loans + convertible bond                        
Total borrowings to total shareholders’ funds Interest of all shareholders                        
– Total group   %       49.1 46.4 56.1 66.9 64.7 64.0 76.0  
– Trading businesses   % 30 – 50     25.3 20.9 28.9 42.9 39.7 38.0 50.0  
– Leasing businesses   % 600 – 800     614.3 560.1 720.1 688.4 661.8 665.7 601.2  
– Car rental businesses   % 200 – 300     203.8 203.3 216.4 210.9 205.4 224.4 217.0  
Net borrowings/EBITDA Non-current interest-bearing liabilities + amounts due to bankers and short-term loans + convertible bond – cash and cash equivalents times <2.5     0.5 0.8 1.2 1.8 1.6 1.4 1.6  
Operating profit + impairment of goodwill and intangible assets + depreciation charge
Current ratio Current assets   >1     1.7 1.8 1.8 1.8 1.6 1.6 1.6  
Current liabilities
Quick ratio Current assets – inventories   >0.5     1.1 1.2 1.1 0.9 0.9 0.8 0.8  
Current liabilities
  Profit before non-operating and capital items + goodwill impairment + B-BBEE transaction charge + interest paid (including interest capitalised and interest included in cost of sales)                        
– Total group Interest paid (including interest capitalised and interest included in cost of sales) times >3     3.7 3.0 3.0 2.9 3.3 3.3 3.2  
– Trading businesses   times >4     5.3 3.8 3.7 3.5 4.0 4.5 4.6  
– Leasing businesses   times >1     2.0 2.0 1.8 1.9 2.2 2.2 1.9  
– Car rental businesses   times >1.25     2.1 2.0 2.3 2.3 2.4 2.0 1.4  
VALUE ADDED                          
Number of employees           17 417 19 201 20 786 19 745 19 616 19 204 18 741  
Revenue per employee Revenue R000       3 646.1 3 302.8 3 201.6 3 186.9 3 342.8 3 136.0 2 855.5  
Average number of employees
Value created per employee Total value created per value added statement R000       1 061.4 846.2 778.0 790.1 813.6 751.1 678.2  
Average number of employees
Employment cost per employee Salaries, wages and other benefits paid to employees R000       531.2 497.6 469.9 452.7 469.0 453.6 410.8  
Average number of employees
ORDINARY SHARES PERFORMANCE – JSE                          
Closing market prices per share                          
– year end (30 September)     SA cents     12 317 12 451 8 327 7 540 9 250 9 538 7 190  
      US cents     870 922 606 544 819 948 871  
– highest     SA cents     18 588 13 300 9 095 10 600 11 648 10 000 10 492  
– lowest     SA cents     11 748 8 256 5 192 7 530 8 790 6 790 6 700  
Number of shares in issue at 30 September##     million     211 211 211 212 213 213 212  
Volume of shares traded     million     211 256 361 173 170 168 213  
Value of shares traded     Rm     32 233 28 562 25 822 15 941 17 552 14 213 17 456  
Earnings yield Headline earnings per share   %     9.3 7.8 10.1 12.3 9.3 8.6 7.7  
Closing market price per share
Dividend yield Dividends per share   %     3.3 2.9 4.1 4.4 3.3 3.1 2.6  
Closing market price per share
Total shareholder return – Barloworld Limited                          
– Annual share price (loss)/gain     %     (1.1) 49.5 10.4 (18.5) (3.0) 32.7 19.1  
– Total shareholder return     %     2.2 52.4 14.5 (14.1) 0.3 35.7 21.7  
Total shareholder return – JSE all share (Alsi) index Annual share price gain + dividend yield                        
– Alsi index (30 September)           55 708 55 580 51 950 50 089 49 336 44 032 35 758  
– Gain/(loss) in Alsi index – year to 30 September     %     0.2 8.9 3.7 1.5 12.0 23.1 20.5  
– Dividend yield     %     3.8 3.7 2.9 3.1 2.9 2.9 2.6  
– Total shareholder return     %     3.3 12.6 5.7 4.6 15.0 26.0 23.1  
Price:earnings ratio Closing market price per share   times     10.3 14.1 9.9 9.3 10.5 12.6 10.6  
Headline earnings per share
Price:earnings ratio – JSE Alsi index           13.6 20.2 23.4 26.7 16.9 19.8 7.8  
                           
Market capitalisation at 30 September Closing market price per share x number of shares in issue at 30 September   Rm     26 004 26 223 11 570 15 995 19 664 22 043 15 265  
Premium over/(under) interest of shareholders of Barloworld Limited Market capitalisation – Interest of shareholders of Barloworld Limited   Rm     3 772 5 948 (1 372) (3 431) 2 782 6 598 2 342  

*   Restated for the treatment of IFRS 10, IAS 19 and discontinued operation.
## The number of shares in issue excludes shares issued in the respect of the B-BBEE transaction other than to the general staff trust.